Looking at the 2005 Form 10K raised some major issues.
Why have ROIC, Sales growth, NP and GP margins (even with the tax rate declining), and NP/Employee and Sales/Total Assets ratios been declining for several years? Why have A/R turndays increased (over 90), while, inconsistently, allowance for bad debt has declined? Does a decrease in raw materials show what management anticipates? Is stock repurchase, which impact EPS numbers, the best use of company funds? Is it unusual to see a relatively large payment of non-audit expense to the auditors?
These and other questions arose when the numbers were crunched through Historical Analysis v2.3. www.ConcernedShareholders.com/CCS_FSA.html